According to ESPN, Manchester City are on the verge of completing a €40 million (£34.2 million) agreement to capture Chelsea midfielder Mateo Kovacic.
In recent days, talks between the two teams have advanced smoothly, with a general agreement on the price leading to more comprehensive discussions on how the payments are handled.
One of the few unanswered topics is how much City will pay Chelsea upfront. The West London club is under pressure to raise finances through player sales by the end of this month after spending about £600 million in the first year of Todd Boehly and Clearlake Capital’s ownership, only to lose out on European qualification entirely.
Any outgoings completed before June 30 will fall under the first full tax year and thus help offset losses in order to comply with Uefa’s Financial Fair Play criteria.
Related Posts
Although certain obstacles remain, sources tell ESPN that a deal for the 29-year-old is expected to be concluded within the next two weeks.
Kovacic is understood to have reached an agreement on personal terms, and the transfer is expected to move forward after he completes his international responsibilities with Croatia.
Their final encounter is the Nations League Final versus Spain on Sunday. Kovacic joined Chelsea on loan from Real Madrid in 2018 before committing to a permanent move to Chelsea a year later in a £40 million deal.
In 221 appearances, he scored six goals and won the Champions League, Europa League, UEFA Super Cup, and Club World Cup.
